Washington — The incoming chair of the Senate antitrust subcommittee, Amy Klobuchar, D-Minn., is introducing an antitrust bill Thursday according to various news reports, which proposes fundamental changes to U.S. antitrust law.
The bill includes new merger regulations, funding for antitrust enforcers, the ability to issue civil fines against companies and also eliminate the need to define the market a company is competing in when charging them with abusing market power.
The Computer & Communications Industry Association has advocated for policies promoting robust competition in the tech industry for nearly 50 years. CCIA has fought mergers that would have harmed consumers, including Comcast-NBC, Sinclair-Tribune, as well as AT&T’s proposed takeover of T-Mobile that was rejected.
The following can be attributed to CCIA President Matt Schruers:
“We share Senator Klobuchar’s goal of ensuring that antitrust enforcers are adequately resourced to protect consumers. New antitrust rules should be based on principles that protect consumers and encourage innovation in various industries across the economy. We look forward to reviewing the details of this legislation and working with the committee to ensure the bill promotes a vibrant and innovative technology sector.
“It’s important also to keep in mind that America out-innovates other countries because we allow companies that can’t compete in the marketplace to fail. We don’t protect one company from another; we protect the competitive process. Another important feature of the successful U.S. approach is a healthy market for mergers and acquisitions. One incentive for start-up investment is the prospect of selling the business, and antitrust should not become an unnecessary barrier to strategies that encourage risk-taking and investment in ideas.”